The Board of Directors of EACO Corporation has unanimously appointed Ellen Bancroft to serve as a director to fill the vacancy currently existing on the Board. Ms. Bancroft will serve until the Company's next Annual Meeting of Shareholders and until her successor is duly elected and qualified, or until her earlier death, resignation or removal, with such appointment was effective as of June 6, 2023. The Board has also affirmatively determined that Ms. Bancroft is an independent director under applicable listing standards of the Nasdaq Stock Market LLC.

The Board has not yet determined the Committees of the Board to which Ms. Bancroft will be assigned.